MobiKwik 2027 财年 Q2 扭亏为盈，净利 11.8 亿卢比，92% 代码由 AI 生成

Fintech company MobiKwik swung to a consolidated net profit of Rs 11.8 crore in the second quarter of the current fiscal year (Q2 FY27) from a loss of Rs 28.6 crore in the year-ago period. The turnaround came on the back of improved margins across payment and financial services and lower payment processing charges.

Sequentially, net profit rose 55% from Rs 7.6 crore in the preceding June quarter, according to its financial statement with the BSE.

Its revenue from operations rose 9% to Rs 295.7 crore in Q2 FY27, compared with Rs 270.2 crore in the same quarter last year. On a quarter-on-quarter (QoQ) basis, it was up 5% from Rs 281.5 crore in Q1 FY27.

Total income stood at Rs 302.8 crore, marking an 8% increase from Rs 279.3 crore in the year-ago quarter.

The company also clocked an EBITDA profit of Rs 22.7 crore during the July-September quarter of FY27 versus an EBITDA loss of Rs 6.4 crore in Q2 FY26.

Platform gross merchandise value (GMV) reached a record quarterly high of Rs 59,677 crore, up 34% year-on-year (YoY). The company expects potential UPI MDR to add further upside, said MobiKwik in an investor presentation.

Lending disbursal GMV grew 34% to Rs 1,082.6 crore in Q2 FY27, compared with Rs 807.1 crore in Q2 FY26.

Revenue from the payments business remained flat at Rs 208.8 crore during the quarter, while financial services revenue rose 42% YoY to Rs 86.9 crore.

MobiKwik accelerates AI adoption

In a statement, MobiKwik said it is increasingly adopting AI across functions including engineering, lending, customer experience and risk management, with 92% of code generated through AI, 91% of customer queries solved by Help LLM, and 100% AI-led fraud detection. The fintech firm aims to become AI-first across the board by FY28.

“AI now generates 92% of the company’s code, up from 80% in the previous quarter, contributing to a 55% faster go-to-market. Its AI-powered collections platform facilitates 55% of early collections and has improved collection rates by 33%, with 30-40% higher connect rates through voice AI.

In Customer Experience, 91% of customer queries are solved by a Help LLM, and 100% of our customer connections are audited for quality by AI. In Risk Management, AI is at the heart of our Operations. 100% of our PRDs (product requirements documents) are assessed for risk by an AI Agent, 100% AI-led fraud pattern detection, and 40-70% of fraud-related grievances are solved by AI,” said MobiKwik.

Payments driving user acquisition

MobiKwik’s core payments business continued to scale, helped by growth in transaction volumes and improved gross margins.

Consumer payments GMV grew 27% YoY to Rs 46,375 crore, while consumer payments gross profit was up 26% YoY.

The fintech startup recorded a 52% rise in UPI transactions at 210 million, while UPI GMV grew 42% YoY to Rs 24,700 crore. PPI Wallet transactions stood at 109 million, up 43% YoY, while wallet GMV rose 20% to Rs 12,400 crore. Bill payments GMV came in at Rs 9,360 crore.

On the merchant side, MobiKwik offers QR codes, soundboxes, point-of-sale devices and payment gateway services via Zaakpay.

Merchant payments GMV surged 76% YoY to about Rs 13,300 crore, while merchant payments revenue skyrocketed 150% YoY.

Consumer lending business

In consumer lending, MobiKwik operates an FLDG (first loss default guarantee) model, offering small-ticket, short-tenure loans that its lending partners underwrite based on borrower eligibility and loan size.

In addition, it operates a distribution or marketplace model, where the focus is on larger-ticket, longer-tenure loans. The fintech company acquires customers through distribution partnerships, focusing on higher-value borrowers. Note that the company secured approval for an NBFC licence from the Reserve Bank of India in April this year.

In its investor presentation, MobiKwik said its lending portfolio is maturing and shifting towards repeat loans and Super Prime borrowers (those with monthly income of over Rs 3 lakh and loan amount of over Rs 5 lakh).

According to the company, repeat loans during the July-September quarter went up from 40% to 59%.

The fintech firm said it is bringing existing, non-borrowing MobiKwik users into the lending funnel via pre-approved and pre-qualified offers. In Q2 FY27, Rs 200 crore worth of disbursals were generated through pre-approved offers.

Where did MobiKwik spend in Q2?

Total expenses, excluding finance costs and depreciation, fell 2% to Rs 280.1 crore in the July-September quarter of FY27 from Rs 285.7 crore a year earlier. Sequentially, it rose 2.5% from Rs 273.4 crore.

Lending-related expenses were down 16% YoY and 1% QoQ owing to a reduction in credit costs due to improved underwriting and collection performance. Payment-related expenses fell 13% YoY and 1% QoQ due to a change in product mix, MobiKwik said.

Here’s a breakdown of its expenses.

Payment processing charges: These remained MobiKwik’s largest expense category during the quarter. However, the company’s spending under this expense head reduced 11% to Rs 119.5 crore from Rs 134 crore in the same quarter last year.

Lending operational costs: These declined 88% YoY and 17% QoQ to Rs 1.5 crore in Q2 FY27.

Financial guarantee expenses: Jumped 59% to Rs 56.2 crore, compared to Rs 35.3 crore a year earlier.

Employee benefits expense: Declined 8% to Rs 74.6 crore during the September quarter from Rs 80.8 crore in the year-ago period.

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